KNOW YOUR NUMBERS

In today’s business climate, it’s more critical than ever to know your numbers! Unfortunately, most contractors starting out have no idea how to calculate their numbers. They usually come up with prices winging it or copying rates that they hear the competition is charging. They have no idea whether those prices will correspond to their own business making a profit. Further, they don’t know how to build an operating budget for the upcoming year. If this is you, don’t feel bad! This is 80-90% of all contractors when they begin their business, and some never change. But it’s not too late.

In the workshop, we will walk you through each line item of your overhead and build your operating budget piece by piece. We will calculate your administrative and indirect costs, figure your labor burden, your available production capacity, equipment rates, depreciation, and more. This will result in you finally knowing YOUR unique numbers!  The process will provide how much you need to charge per man-hour, how much markup to apply to materials, subs, sales goals, and other Key Performance Indicators (KPI’s).

Day Two we will show you how to estimate a job using the numbers for your business and how to consistently carry that forward on every project.  And then we teach proper methods of recognizing revenue in construction and how your standard QuickBooks processes could be fooling you.  Utilizing your numbers, we show how to analyze your P&L statement – by the job, monthly, and quarterly – to ensure you are on track with your projections all along the way.  These techniques will lead you to a guaranteed not a hoped-for profit!